As the costs associated with providing health coverage to employees continue to rise, many employers are considering a change from fully insured plans to self-funded plans and other strategies that might reduce costs. With a fully insured plan the insurer carries the risk that costs will exceed premiums, but with a self-funded plan the employer carries that risk, sometimes with stop-loss insurance as a backup. Self-funded plans may offer savings, but they also carry increased financial risk for employer-sponsors. To avoid that risk, some employers are keeping fully insured plans but are opting for high-deductible health plans (HDHPs), sometimes with health savings accounts (HSAs), health flexible savings arrangements (health FSAs), or health reimbursement arrangements (HRAs). Self-funded plans do not require the employer to set aside a source of funding, but they do require careful design and actuarial advice. Similarly, HDHPs (whether insured or self-funded) require careful attention to design, especially if the employer also intends to add health FSAs, HSAs, or HRAs to the coverage mix.
Join Christine Williams, founder of Health Plan Plain Talk, to learn more about the advantages and risks of self-funded health plans, other cost-saving strategies, and potential regulatory changes that may affect options for employer-sponsored health plans.
WHAT YOU’LL LEARN
This webinar will examine:
- The differences between fully insured and self-funded health plans
- How stop-loss insurance works and whether it will remain widely available
- The effect of state-mandated benefits on HDHPs and self-funded plans
- How health FSAs, HSAs, and HRAs must be designed in order to work with HDHPs
- Design considerations for self-funded health plans
- The minimum and maximum deductibles for HDHPs
- Employers’ rules for HSAs
- Permissible limits on coverage for spouses
- Potential regulatory changes
- AND MUCH MORE!
YOUR CONFERENCE LEADER
Your conference leader for “Self-Funded Employer-Sponsored Health Plans and Other Potential Health Coverage Cost-Saving Strategies” is Christine Williams. Ms. Williams has worked in the employee benefits field since 1987, both in private practice and as in-house counsel to a Fortune 100 company, and recently founded HealthPlanPlainTalk.com, an online resource for benefit plan sponsors and employee benefit professionals. She has extensive experience with all types of health and welfare plans, and was the editor and a contributing author of HIPAA Portability, Privacy, & Security, published by the Employee Benefits Institute of America (EBIA), a division of Thomson Reuters, and is now a contributor to that publication. She was a contributing author of Health Care Reform for Employers and Advisors, also published by EBIA. She has provided advice on HIPAA, health care reform, and benefit plan compliance to a wide range of health plans, employers that sponsor health plans, and business associates, and she regularly teaches seminars for employee benefit professionals. Before moving into employee benefits, Ms. Williams was a trial attorney at the U.S. Department of Justice and an assistant professor at the University of Maryland School of Law. She earned her J.D. degree from the University of Kentucky College of Law.